SE Asia Stocks-Most indexes fall; Philippine shares snap fours days of losses
* Singapore, Malaysia indexes fall for 6th straight session
* Malaysia index hits lowest since Jan 2017
* Philippines cbank monetary policy meeting on Thursday
By Shanima A
Dec 11 (Reuters) - Philippines shares rose on Tuesday as
investors hunted for bargains following four consecutive
sessions of decline, while a sell-off continued in most other
Southeast Asian stock markets on growing fears around global
growth.
Philippine shares added 1.4 percent, posting their
biggest intraday gain in one week, mostly supported by gains in
the industrials and real estate sectors.
"The Philippine market has been relatively weaker than other
regional markets. What we see today is a rebound after the
declines in the last three to four days," said Charles William
Ang, an associate analyst at COL Financial Group.
Investors will be looking out for Philippine central bank's
monetary policy meeting scheduled for Thursday, where the apex
bank is widely expected to keep interest rates steady, with
inflation seen easing further after it slowed to a four-month
low in November, a Reuters poll showed.
Meanwhile, S&P Global Ratings said it continued to see
downside risks to Asia-Pacific growth forecasts. The global
growth drivers that produced the regional upturn have started to
fade, S&P said and lowered forecasts for almost every country in
the Asia-Pacific.
MSCI's broadest index of Asia-Pacific shares outside Japan
fell 1.7 percent and was hovering near a
three-week trough.
The index skid more than 16 percent this year on worries
about corporate earnings and factory output, with the trade
battle between the United States and China, clouding the outlook
for world growth as well as uncertainty stemming from the United
Kingdom's exit from the European Union.
Thai shares slipped to lowest in more than 2 weeks,
hurt by industrials and energy stocks, with PTT Exploration and
Production PCL shedding 2.2 percent.
Malaysia's benchmark index posted its sixth straight
session of declines and was near its two-year low. Lenders
Malayan Banking Bhd and Public Bank Bhd
dipped to their lowest since mid-November.
Singapore shares dropped 0.4 percent with
index-heavyweight Jardine Strategic Holdings losing 2.8
percent, while lender DBS Group Holdings fell to more
a than two-week low.
Indonesian shares fell 0.5 percent as losses in the
consumer staples and materials sectors weighed in.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Previous Close Pct Move
Singapore 3059.28 3072.44 -0.43
Bangkok 1633.62 1649.99 -0.99
Manila 7451.08 7348.21 1.40
Jakarta 6076.587 6111.36 -0.57
Kuala Lumpur 1652.63 1663.31 -0.64
Ho Chi Minh 954.58 955.89 -0.14
Change on year
Market Current End 2017 Pct Move
Singapore 3059.28 3402.92 -10.10
Bangkok 1633.62 1753.71 -6.85
Manila 7451.08 8558.42 -12.94
Jakarta 6076.587 6355.654 -4.39
Kuala Lumpur 1652.63 1796.81 -8.02
Ho Chi Minh 954.58 984.24 -3.01
(Reporting by Shanima A in Bengaluru; Editing by Gopakumar
Warrier)